Top 5 Stock Picks of Dmitry Balyasny’s Hedge Fund

02. L3Harris Technologies, Inc. (NYSE:LHX)

Balyasny Asset Management’s Stake Value: $191.710 million

Percentage of Balyasny Asset Management’s 13F Portfolio: 0.62%

Number of Hedge Fund Holders as of Q2, 2022: 34

The company was formerly known as Harris Corporation and changed its name to L3Harris Technologies, Inc. in June 2019. L3Harris Technologies, Inc. (NYSE:LHX) was founded in 1895 and is based in Melbourne, Florida. L3Harris Technologies, Inc. (NYSE:LHX), an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide.

On September 28, L3Harris Technologies, Inc. (NYSE:LHX) was downgraded by Wells Fargo analyst Matthew Akers to Equal Weight from Overweight with a $238 price target, down from $272. The analyst believes that a considerable increase in U.S. military activity would be required for defense equities to rise above their current levels, which he sees as being unlikely in the foreseeable future. Akers anticipates continued supply chain delays and is unsure of “what might excite investors again” in regards to L3Harris Technologies, Inc. (NYSE:LHX).

Balyasny Asset Management is bullish on L3Harris Technologies, Inc. (NYSE:LHX) during Q2 as it increased its stake by 53%. At the end of Q2, Balyasny Asset Management held 793,174 shares of L3Harris Technologies, Inc. (NYSE:LHX), worth roughly $191.710 million.